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NSB - US$5m licence signed

January 2003

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

NSB has won a licence and implementation contract from North American department store group, JC Penny. The licence for Connected Retailer exceeds US$5m although it will not be recognised in 2003. The system will be piloted in 2003 and rolled out in 2003-5. Licence revenue will be recognised in line with the roll out of the systems during 2004 and 2005. Up 73% since November tip. Still a speculative buy. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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